Philippine Population
In the light of the improved credit standing of the Philippines, there have been positive predictions about the Philippines’ future. These predictions are based on the country’s current economic status which has certainly improved after years of poor performance as compared to the economic performance other Asian countries.
Philippine’s Young Population is a Key to Economic Growth
According to recent economic analysis on the Philippines, the country’s young population will serve as the country’ s key to economic growth and stability.
A high population growth rate which is being considered a hindrance to economic growth and is deemed the primary cause of poverty is now seen as a the main reason for the country’s apparent economic improvement. About 61 percent of the population in the Philippines is of working age, between 15 and 64. That figure is expected to continue increasing, which is not the case for many of its Asian neighbors, whose populations are aging.
The Philippines is the 44th-largest economy in the world today, according to HSBC estimates. But if current trends hold, it can leap to the No. 16 spot by 2050.
If the Philippine government would continue to play the ball right in terms of its sound fiscal and economic policies, then the country’s young population would certainly contribute to economic growth especially if this young workforce will no longer be forced to work abroad due to availability of equally good opportunities in the country.
Although Philippines has still a long way to go before its economy becomes the brightest in Asia due to its poor infrastructure and disaster recovery, its economic growth, stable peso and improved credit standing are good start and are likewise positive indication of a brighter future. The apparent economic growth of the Philippines would certainly attract more foreign investments in the country.
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